Today e-commerce transactions are processed as “card not present”. This means the customer has to enter their card account number, printed security features on the card like CVC/CVC2 (card verification code/card validation code). This data is used and stored by the merchant to make the payment. This is customer PCI (Payment Card Industry) data. The merchant also pays a higher interchange rate because of the type of fraud which is possible because the data is exposed in the transaction and at the merchant web site.
Alternatively, “card present” e-commerce transactions can overcome problems or disadvantages associated with “card not present” e-commerce transactions. Therefore, it is desirable to have devices and methods that can provide for “card present” e-commerce transactions.